i just bid on an item and lost.... however i have also bid on another similar item....and lost as well.....and finally im on my third item....similiar to the first two, which i won. Then i was reading around and i found out that if the other high bidders retract the bid i may become the winner for those and am responsible for my bid. That means i could have up to 3 of the same thing! does anyone know how long these "binding" obligations last? is it like 48 hours or something or is it infinite....like coming back 1 week later to bite me in the *ss
2007-08-21 16:32:57 · 4 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
If the auction closed and you were NOT the winning bidder you are under no obligation to purchase whatsoever. If you did not win the item and the auction closed, you are no longer in contract. Second chance offers may be offered by the seller should the highest bidder back out, but as the term states, these are "offers" and you have the right to accept or decline. Good Luck!
2007-08-21 17:26:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I don't know but you can email them and ebay is very helpful. They have a new way of bidding on like items. You put in a bid and it will bid each item in turn until you win. I've done that with jewelry and been outbid on some really good stuff. If everyone backed out, I would have to get a small loan. I don't think people back out often.
I don't think a second chance offer is what you are talking about because it plainly states that if an offer that outbids you is not honored, you could end up the winner and I don't think you have a choice. I would have a serious problem with that if it happened to me, especially if the other person bid the price up. I think the answer would be NO.
2007-08-21 18:12:55 · answer #2 · answered by towanda 7 · 0⤊ 0⤋
No, that's the risk a Seller has to accept when they put an item up for bidding. A seller sets a low opening bid to encourage bidding. They can set a reserve price to make sure they get a minimum price, but they must accept the final bid. Some sellers rig the auction by padding the shipping costs. That means they add extra $$$ to the shipping cost to get more money out of the buyer.
2016-05-19 04:59:27 · answer #3 · answered by ? 3 · 0⤊ 0⤋
I wouldn't worry about it. The chances of that happening are about one out of a hundred. Also, you do have the choice of accepting or declining those "Second Chance Offers." Either way, you're covered.
2007-08-21 16:41:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋